The Cabinet of Ministers has introduced new trade restrictions against Russia by banning the import of a number of Russian goods and the introduction of new duties and quotas on Russian goods. Prime Minister of Ukraine Volodymyr Groisman announced this during a government meeting on May 15.
In particular, Ukraine has expanded the ban on the import of vehicles, mineral fertilizers, some types of industrial products, cement, etc. Ukraine also plans to introduce duties on Russian goods and set quotas for their import to Ukraine. Revenues from new Russian customs are planned to be put into a special fund aimed at stimulating import substitution.
The total value of goods imported from Russia by the government is $ 510 million a year.
New trade restrictions of Ukraine are Ukraine’s response to Russia’s trade restrictions, in particular regarding the prohibition of supply of its petroleum products to Ukraine, as well as the ban on imports of a number of goods.